Silver price advanced slightly on Tuesday to trade briefly above $30 level. The gain was supported by a small recovery of precious metals. In addition, Chinese suppliers restock after a week of public holiday. Increased demand for industrial metals was evident during the trading session of yesterday.
Traders are closely observing the Euro Zone and the German ZEW news updates. Many hope that signs of EU will reappear.
A continuing increase in industrial demand for silver brightens the prospective development expectation for the white metal. Silver nowadays is utilized in every thing from solar-power generation and water purification, to hygiene and specialized medicine.
There are not many assets presently with such a broad bullish support. So, if we combine the lower average price, strong demand and slow signs of recovery, there is only one conclusion. Now is the perfect time to either add silver for your portfolio or to increase your current level of exposure to the metal.
If you are small-size investor, now is a good time to buy an once bar or few coins.
Silver coins that are considered as attractive, are the American Silver Eagle, Canadian Silver Maple Leaf, Mexican Silver Libertad, Chinese Silver Panda and Australian Silver Koala.
- Additional Reading: How To Buy Silver Coins Online
Worldwide government and private mints create them. The prices usually track the spot price of silver, plus premiums of 8% to 10% for bullion bars. While the premium for a coin is about 16%. That covers the fabrication and minting expenditure. The real mark-up varies for different coins. It is based on the purity of the white metal utilized in the bullion. Canada’s Silver Maple Leaf has the highest purity of 99.99%. Consider that if you are going for silver coin investment.
More experienced investors can decrease the premiums to as small as 4% to 6%. This can be achieved by purchasing 5-ounce, 10-ounce, or one-kilogram coins provided by some mints. The same goes for 10-ounce or 100-ounce silver bars buying.
- Check this out: Investing Crash Course in Commodities, An (Video): Understanding the Markets, the Exchanges, and the Mechanics of the Trade
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